Investing in Real Estate is one avenue many take to help build wealth as it can provide strong rates of return. However, with any investment, there can be risks involved and many consult a professional to ensure they are making a smart and educated decision.
ERA Grizzard's team of Property Managers in Central Florida are proud to offer a unique service in helping investors find the right investment property. Before any decisions are made towards the purchase of a home or even before entering into a partnership with our team, investors can receive a free and professionally guided Property Investment Assessment to weigh viability. This process is thorough and helps the investor gage and measure expectations with their potential investment.
So, what does this Property Investment Assessment entail? Let's take a closer at some of the items included in ERA Grizzard Property Management's assessment, and some top tips to keep in mind:
Don't be afraid of older homes.
Homes, 15-20 years or older, can be a very good candidate for a rental property as the opportunities for improvement of value can be readily available.
The age of appliances.
If they are 10 years or older, you may need to expect the possibility for repairs.
The condition of the roof.
How old is it? Has it been replaced? When was it replaced? Look for stains on ceilings, along walls, and in the attic on the roof decking as these could be signs of leaks.
Block homes with stucco.
Look for cracks in the stucco as moisture can build up behind these cracks.
Insurance companies’ tendencies are also a factor to consider.
For example, tree limbs hanging over property may need be removed.
Call a Certified Home Inspector.
Before you close, have an inspector take a look at the property, as they can find issues you might not be aware of or be able to see.
Consult with an experienced Property Manager.
As you can see there are several things to consider and look for when weighing the pros and cons of a particular property, but with the help of our team - no rock is left unturned.
So if you're thinking of buying an investment property, our Property Management team would be happy to perform an assessment for you, making sure you're off to a successful start.